Delhi EV Policy 2026 Approved by Cabinet

研报英文原文证据摘录

Delhi EV Policy 2026 Approved by Cabinet

Update

June 29, 2026 06:01 PM GMT

Morgan Stanley India Company Private Limited+MIndia Autos & Shared Mobility | Asia Pacific Binay Singh

Equity Analyst

Delhi EV Policy 2026 Approved Binay.Singh@morganstanley.comSushrut Ghalsashi, CFA +91 22 6118-1158

Research Associate

Sushrut.Ghalsashi@morganstanley.com +91 22 6118-1073

by Cabinet

The Delhi cabinet approved the 2026 Delhi EV Policy, which

prescribes sizable incentives for E2Ws, 3W SCVs, and buses. It

also prescribes ICE phase-out mandates. Delhi remains a small India Autos & Shared Mobility

portion of ICE 2W/3W sales, but such policies becoming a Asia Pacific

Industry View Attractive

template for other cities remains a key risk to monitor.

See our previous report:

Delhi Draft EV Policy 2026 – Incentives Rise and

Key Takeaways

Timelines Set for ICE Phaseouts

In a first, policy proposes timelines to ban new ICE 2W, 3W, and sub-3.5 tonne

vehicles over time.

Scooter ICE customers can migrate to EVs, but the motorcycle segment has no

strong EV offerings.

Chandigarh had also proposed an ICE two-wheeler ban in 2023 but then delayed

implementation to 2027.

We expect strong pushback to this ban from dealers and OEMs.

Air pollution is a valid concern. Scrappage of old fleet across segments is the

best way to handle transport-related emissions.

EV first: Delhi had earlier shared draft a EV policy; this has now been approved.

Chandigarh had also proposed an ICE two-wheeler ban but later pushed it to

November 2027. In this case too, we expect the industry, led by Delhi-based two-

wheeler dealers, to push for delay in implementation of the ban – in categories like

motorcycles, there is no strong EV alternative as of now.